The research found that with an increased disposable income, just under a third of us would either buy a house or upgrade to a bigger house, while 23 per cent would invest in a second home abroad.
A satisfied 21 per cent of the nation seem quite happy where they live and would simply make improvements to their current property.
Londoners (33 per cent) were the most likely to buy a house or buy a bigger house, while people in the North East (29 per cent) would answer the call of distant lands as the most likely to buy a second home abroad. The Welsh however (31 per cent) proved to be the true homebirds, as they preferred the idea of spending money on improving the home they already have.
Brits also know exactly what they want when it comes to buying a property as 62 per cent of people who took a mortgage in the last five years spent three months or less looking at properties before making an offer. Only a fifth were more indecisive spending more than six months looking before they found somewhere they liked enough to make an offer.
Choosing a mortgage would appear to be just as straightforward, as almost half of those (45 per cent) who took out a mortgage in the last five years spent a week or less looking at and comparing mortgage deals before deciding on the one they actually took out. It would seem the older and wiser over 50s really know their stuff as nearly a third said they took no time at all to find exactly what they wanted, while 42 per cent of 18-29 year olds spent between 1-4 weeks looking for their ideal mortgage option.
As for the features of the mortgage itself, the research found that, of those who have arranged their current mortgage in the last five years, men favour a low rate as the most important feature while woman preferred the certainty of a fixed monthly payment. When it comes to getting the mortgage paid off early more men (27 per cent) than women (20 per cent) felt that an overpayment option was an important feature.
Charles Haresnape, director at NatWest Mortgages, commented: "People are becoming much more astute when it comes to buying property and finding a mortgage, and clearly a lot more demanding in bagging the right deal. They also want flexibility from the products they choose and for couples looking for mortgage harmony, choosing a product such as an offset mortgage can fulfil the needs of changing circumstances. This in turn could afford homeowners the flexibility to command an increased disposable income that they could use to perhaps realise aspirations such as a second home."
